Monday, September 29, 2008

To what extent is this no on the bailout vote by Republicans in the house an attempt to do something we can all understand: did they vote 'no' simply to keep their jobs?

The media language has developed 'mainstreet' and 'Wall Street' as the key forces in the narrative they are telling. This bill is reported to be unpopular on 'mainstreet.' If mainstreet dissatisfaction is not just narrative but reality, we can believe red-state Republicans have faced immense pressure from their constituents to reject this bill. This pressure could be the reason that so many House Republicans rejected the bill, and why the bill has so far failed.

I have a few questions, then.

Is modern-day American democracy not dead? Do people's voices matter? Could a massive $700 billion economic plan be decided by grass-roots constituents?

We have to wait and see. CNBC is reporting the bill could still pass. I wonder what kinds of backstage powerplays are right now going on. There are too many interests and riches and systemic risks here for it to be (in an empirical sense) decided by the voices of real people, right?

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